股权

Not only some economists' standpoint that the arrangement of the property rights is the nature of corporate governance, but also other economists' ones that they pay more attention to the design and enforcement of corporate governance mechanisms. The division hypothesis of corporate governance would conduceto comprehensive knowledge of corporate governance. Second, this thesis formalizes the ideas "the optimal shareholder structure of a firm is endogenously determined" proposed by Demsetz (1983) in a simple framework, which constitute the new rationale against the proposition "the more concentrated theshare, the more efficient the firm is" by Berle and means.

公司治理的分层假说将有助于我们形成对公司治理内涵全面的认识；（2）本文在一个简单的框架下形式化了Demsetz（1983）提出的最优股权结构内生决定的思想，为反驳Berle和means（1932）提出的"股权高度集中，企业的价值将最大"的命题提供了新的理论依据；（3）我们证明，公司治理机制的"整合"对降低投资者之间的利益冲突所导致的"第二类代理成本"具有重要作用。

Based on the 214 block shares transfer samples from 2003 to 2004,we analyses the market reaction and its determinants with the event study .

根据2003-2004年深沪A股上市公司的214起大宗股权转让记录，本文采用事项研究法研究了股权转让对公司市场价值的影响，并进一步考察了累积非正常回报率的影响因素。

4 Of our country s Company Law makes provision of limited company s stock right transfer become the arbitrary clause,but this does not mean there is no border in the corporation by-law autonomy of stock right transfer .

我国《公司法》第七十二条第四款使有限责任公司股权转让规范成为任意性条款，但这不意味着股权转让的公司章程自治没有边界。

On the one hand, the relationship between ownership structure and capital structure has been supported by some empirical evidence.

从目前不多的文献来看，股权结构对资本结构的影响已经被一些实证研究所支持；此外，由于中国上市公司股权结构存在一些与成熟市场截然不同的特点，因此，针对中国上市公司进行一些相关研究将是非常有意义的。

To construct the share contribution form in accordance with the Chinese national conditions, the first step will be to make clear the characteristics of shareholding.

要构建适合中国国情的股权出资制度，首先要阐明股权自身特性。

Secondly,we can use the theory frame of cooperative game to figure out the method of optimal equity structure design and the optimal value theoreticly.

二、能够借助合作博弈理论的分析框架寻找到上市公司股权制衡的最优股权结构设计的方法和理论最优值。

There is another major difference between the garden variety of bond and our new exotic 12 percent "equity bond" that comes to the Wall Street costume ball dressed in a stock certificate.

这是另外一个债券与12%回报的"股权债券"的重要的区别。股票就好像是穿着股票证书华丽外衣参加华尔街化妆舞会的一种新的债券-"股权债券"。

There is another major difference between the garden variety ofbond and our new exotic 12 percent "equity bond" that comes to theWall Street costume ball dressed in a stock certificate.

这是另外一个债券与12%回报的"股权债券"的重要的区别。股票就好像是穿着股票证书华丽外衣参加华尔街化妆舞会的一种新的债券-"股权债券"。

The bondholder gets it in cash There is another major difference between the garden variety of bond and our new exotic 12 percent "equity bond" that comes to the Wall Street costume ball dressed in a stock certificate.

债券投资者拿的是现金这是另外一个债券与12%回报的"股权债券"的重要的区别。股票就好像是穿着股票证书华丽外衣参加华尔街化妆舞会的一种新的债券-"股权债券"。

The document said that once CICL owned the shares, CNPC agreed to buy back 29% of Darley's stake for $25.9 million.

文件说，中石油同意，一旦CICL拥有这批股权，则将以2，590万美元的价格买回Darley公司29%的股权。

However, as the name（read－only memory）implies, CD disks cannot be written onorchanged in any way.

然而，正如其名字所指出的那样，CD盘不能写，也不能用任何方式改变其内容。

Galvanizes steel pallet is mainly export which suits standard packing of European Union, the North America. galvanizes steel pallet is suitable to heavy rack. Pallet surface can design plate type, corrugated and the gap form, satisfies the different requirements.

镀锌钢托盘多用于出口，替代木托盘，免薰蒸，符合欧盟、北美各国对出口货物包装材料的法令要求；喷涂钢托盘适用于重载上货架之用，托盘表面根据需要制作成平板状、波纹状及间隔形式，满足不同的使用要求。